AWS, Google and Microsoft are all still growing their cloud revenues, though for Google that growth is coming with some high costs.
Investors include Texas, Virginia, and Orange County employee and teacher retirement systems.
The company's CFO says the $1.2 billion loss is necessary, as it invests "ahead of revenue" in products and data centers.
The loan from Absa Group will help Teraco construct a seventh site in Africa’s most industrialized nation.